Compensation Fees
Five Compensations intending to reflect the price differences between gas deliveries at the GTF and the five Redelivery Points will be communicated by DONG Naturgas to the qualified bidders immediately prior to the GRP 2008 two-way auction. In the period leading up to the GRP 2008 two-way auction, DONG Naturgas will publish indicative Compensations on this website in order to facilitate the decision to qualify for the auction.

Each Compensation, expressed in EURc/kWh, applies to contracts with redelivery at a corresponding Redelivery Point, and will be paid by DONG Naturgas to the successful bidder on all quantities delivered by DONG Naturgas to the successful bidder at the GTF.

Swap Fees
Five Swap Fees, expressed in EURc/kWh, will be determined to the auction. The auction procedure will result in one Swap Fee for each Redelivery Point. Each Swap Fee will apply to contracts with redelivery at a specific Redelivery Point, and will be paid by the successful bidders to DONG Naturgas on all quantities delivered by DONG Naturgas to the successful bidder at the GTF.

At settlement, the payment of the Compensation(s) by DONG Naturgas and the payment of the Swap Fee(s) by the successful bidder will be netted.

Charges for Quantity Differences
As DONG Naturgas and the successful bidders may receive different quantities at the Delivery and Redelivery Point, the difference in quantity will be settled on a monthly basis as a Charge for Quantity Difference (CQD), expressed in EURc/kWh, specified for each Redelivery Point. 

The values of the five CQDs will be communicated by DONG Naturgas to the bidders prior to the GRP 2008 two-way auction. In the period leading up to the GRP 2008 two-way auction, DONG Naturgas will publish indicative CQDs on this website in order to facilitate the decision to qualification for the auction.

Each CQD will be based on the averages of the daily quotations, in the 3 months leading up to the GRP 2008 two-way auction, for gas years 2008 and 2009 contracts with delivery at the specific Redelivery Point to which the CQD applies.

The sources for such quotations will be the daily industry publications such as European Natural Gas Report (published by Argus Media), European Spot Gas Markets (published by Heren Energy), daily settlement prices the European energy exchanges or European Natural Gas Report (published by The McGraw-Hill Companies).